Gold prices held steady on Monday at $1574 on rising concerns over the severity of the coronavirus outbreak as market worries persisted about the fallout from the epidemic that has killed more than 900 people in China and infected over 40,000. 

There's still a great deal of uncertainty around the virus impact and we're seeing rising deaths and infections. The economic impacts are still unclear. If that's the case, we'll continue seeing reasonable support for gold.

A further escalation in the coronavirus situation, such as a rapid increase in international cases, will strengthen the case for gold further.

Elsewhere silver edged higher by 0.3% to $17.79 and platinum rose 0.5% to $972.

Where are commodity prices heading next?  Watch Phil Carr at The Gold & Silver Club review Gold, Silver and Crude Oil with the latest price forecast and predictions:

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